June 21 (Cointime) - The director of enforcement at the U.S. Securities and Exchange Commission, Gurbir Grewal, has stated that the regulator is not concerned with labels or technology, but whether securities are being sold in compliance with existing laws. Grewal highlighted that the SEC is concerned with offerings in the crypto markets and has seen many DeFi products and stablecoins that are fraudulent. He also noted that crypto products and services are supposed to protect against market manipulation and fraud but haven't. The SEC recently charged Binance and Coinbase for securities law violations, and Grewal said the agency prosecuted the exchanges to promote compliance and deter other bad actors.